- BAT coin price has been seeing a strong downside trend and has fallen 85% from its all time high.
- Technical indicators of BAT are favoring a downside trend. BAT/BTC pair has seen a fall of more than 3.64% in the intraday session.
Basic Attention token powers blockchain based advertising platform Brave and fairly reward users for their attention. BAT was launched in 2017 and has one of the fastest ICO at that time. BAT token was founded by Brendan Eich and Brian Bondy who has a vast experience in the software industry. Meanwhile the primary use case for BAT is a as a payment token for running advertising campaigns in Brave Browser.Basic Attention Token has a maximum total supply of 1.5 Billion tokens. Meanwhile,they cannot increase the token supply without switching to a new smart contract. BAT has seen a decline of 88% from its all time high.
Basic Attention Token is currently ranked 87th in the cryptoverse. Volume of the asset price has seen an increase of over 33% in the intraday session. Volume to market cap ratio of the asset price suggests a consolidated trend in price.
Bears Of BAT Are Pushing The Price Down
The weekly technical chart of the BAT suggests a consolidated trend in price. On coming to the daily chart the asset is trading near the value of $0.2157 with a loss of more than 1.83%. The upside trend of BAT can see a halt near the value of $0.5.Meanwhile the downside trend of the asset can see a bounceback from $0.15. The asset price is currently trading below the 50 and 100 Daily Moving Average.There can be a negative crossover which can push the price down to a new low.
Conclusion
Basic Attention has seen a strong fall from its all time high. BAT crypto price is currently seeing a consolidated trend and can move to a new high in the future.
Technical Levels
Major Support:$0.12
Major Resistance:$0.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/13/basic-attention-token-price-prediction-will-the-bat-crypto-price-downtrend-soon/